Investcorp and Kortright Capital Partners form strategic partnership
KORTRIGHT'S MATTHEW TAYLOR AND TY POPPLEWELL BRING SPECIALIST EVENT EQUITY STRATEGY TO INVESTCORP'S SINGLE MANAGER PLATFORM
NEW YORK, July 16, 2013 /PRNewswire/ -- Investcorp's U.S.-based Hedge Fund business and Kortright Capital Partners LP, a New York-based investment manager led by co-founders Matthew Taylor and Ty Popplewell, today announced a strategic partnership to provide Kortright stable growth capital while offering Investcorp and its investors access to a specialized event equity strategy.
Founded in 2010, Kortright is the newest asset manager to join Investcorp's Single Manager Platform, which has a total of $2 billion in client and proprietary assets under management. Historically, Investcorp provides initial seed capital ranging from $50 to $100 million.
Kortright focuses on the equities of small and mid-cap companies at complex points in their corporate lives. The Kortright team combines a deeply fundamental investment process and an event-driven framework to pursue opportunities arising from corporate change that is overlooked or misjudged by market participants.
"Through this partnership with Kortright, the Single Manager Platform can now provide investors with access to a hedge fund manager with expertise in monetizing opportunities stemming from corporate activity," said Nick Vamvakas, Managing Director, head of development for Investcorp's Single Manager Platform. "Current market conditions have fostered an attractive environment for event equity strategies, and Kortright is one of very few true specialist managers in this space."
Messrs. Taylor and Popplewell have a combined 25 years of investing experience, and they have been investing together for nearly a decade. Prior to forming Kortright, they worked together at Och-Ziff Capital Management Group LLC where they held Managing Director and Senior Analyst positions, respectively. Over the course of their careers, they have managed over $1 billion in hedge fund assets.
"The familiarity and continuity between Matt and Ty, as well as their proven pedigree of managing large amounts of capital were critically important factors in our final decision," Mr. Vamvakas added.
"Investcorp was one of the first proponents of emerging managers, and their support validates our differentiated approach to event equities," said Mr. Taylor. "We have found a likeminded partner whose experience as an investor and seeder will prove instrumental in growing a platform that can deliver our specialized product to institutional investors."
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, London, Bahrain and Saudi Arabia. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at December 31, 2012, Investcorp had $11.5 billion in assets under management. Further information is available at www.investcorp.com.
Kortright is a NY based investment manager founded in 2010 to pursue a differentiated approach to the equities of small and mid-cap companies at complex points in their corporate lives. The firm combines a deeply fundamental investment process and an event-driven framework to monetize opportunities arising from corporate change that is overlooked or misjudged by market participants.
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